Research >> Economics
New York Purchasing Managers Business Activity above breakeven
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New York City business activity moved back above breakeven after contracting last month for the first time in two years, according to the survey taken by the Institute for Supply Management-New York (ISMNY). The Current Business Conditions index rose to 50.6 in September from 47.8 in August.
Future optimism remained in positive territory, but less so than last month, suggesting purchasing and supply executives expect the slowdown to be temporary. The Six-Month Outlook index fell to 55.9 in September from 59.9 in August.
Details on purchase volume and employment were mixed . The Quantity of Purchases index (54.8 September vs. 47.1 August) expanded for the first time in four months, while the Employment index (48.8 September vs. 48.6 August) contracted for the fifth time in the last six months.
Price/cost pressures picked up. The Prices Paid index rose to 61.0 in September from 54.3 in August.
Business impediments had a temporary feel, with weather (i.e., Irene) and security concerns (i.e., 9/11 anniversary and UN) up noticeably on the month.
Posted: September 30, 2011 Friday 08:30 AM